Alida is one member of the 15-person group, La Alternativa 1, 2, 3. Her group is located in Samana, a lush rugged peninsula with a nascent tourism industry. Alida, like all in this group, decided to do business with Esperanza because she needed to bring extra income to her house. She is a divorced mother of three children. She is running a miscellaneous products business where she sells different products like cosmetics, shoes, accessories, and clothing.
Alida started her business with her first loan from Esperanza, and this activity allows her to support her family. With this loan she will invest in her business to increase her inventory. Her future plans are to have a wholesale store and provide her children a great education and all they need.
Alida joined Esperanza almost ten years ago and this is her 18th loan. All previous loans have been repaid and invested in her business. She thanks all of you for your support!
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.